- POSCO Chemical has acquired a 13% stake in Qingdao Zhongseok Zhongshuo, thereby ensuring the reception of raw materials for anodes from 2022 onwards
- The move is a response to client diversification and increased orders being made due to technological development, such as low-expansion anodes for electric vehicles that combine the advantages of natural and artificial graphite
- POSCO Chemical has established an anode business value chain covering the mining of raw POSCO Chemical will be investing in spherical graphite to attain the stable supply of anodes, a key material for making batteries.
- POSCO Chemical to reinforce competitiveness in anodes on the basis of domestic production of raw materials for secondary cells
- 74.5 billion won of investment made for a production capacity of 15,000 tons
- P&O Chemical, a joint venture with OCI, expected to expand business and create new revenue
- Investment of 218.1 billion won in expanding cathode and precursor plants with an annual capacity of 30,000 tons each
- First entry into the overseas market for secondary cells, with China being selected as the largest battery market in the world
- Expansion in the precursor business, the intermediate material for cathodes, to improve supply and demand stability and internalization rate
- Preparing to establish US and EU corporations to accelerate the building of a global supply chain and strengthen market leadership
- POSCO Chemical CEO Min said, “We will respond preemptively to the fast-changing market to expedite investment.”
- The company records 480 billion won in sales and 35.6 billion won in operating profit in Q2
- Cathode business accounts for 35% of the enterprise business, driving growth as a new flagship sector
- POSCO Chemical concludes an investment deal for a 60,000-ton cathode plant with Gyeongsangbuk-do and Pohang, accelerating investment
- Will build a global production system of 270,000 tons by 2025, with 160,000 tons from Korea and 110,000 tons overseas, aimed at becoming the world’s top-tier producer
- POSCO Chemical CEO Min Kyung-zoon said, “We will build the most competitive production base in the world and lead the K-battery industry.”
- Introduction of environmental performance including technological innovations in secondary cell materials in response to climate change
- Establishment of a safety management system and intensified corporate governance including the BOD, included as main achievements
- CEO Min Kyung-zoon stressed, “We will promote sustainability through technological development in secondary cells and bold investment.”
- POSCO Chemical to supply essential battery materials, cathodes and anodes, to Ultium Cells, and enter the global market in earnest
- Developed proprietary anodes with low-volume expansion for GM EV batteries with longer life and rapid charging
- Backed by the support of POSCO Group, synergy is expected from the integration of separate businesses, and R&D to obtain visible results in the secondary cell sector
- Will accelerate growth with differentiated competitiveness by developing market-leading products and securing a value chain for raw materials
Will expand the annual cathode output to 100,000 tons
- The Gwangyang cathode plant is set to expand the high-nickel NCMA production line for next-generation EVs
- Annual production capacity is set to grow by 30,000 tons, and a 100,000-ton production system will be running in 2023
- Investment on next-generation materials to secure a future growth engine and boost competitiveness of customers